LG Display Set to Invest 17 Tril. Won for Next 3 Years

July 26, 2017 03:05|July 26, 2017 11:52

LG Display is set to invest 17 trillion won in Korea and elsewhere by 2020. This is in response to the fast-growing market for organic LEDs. The company also announced plans for investment in preparation for the 10.5th-generation display panels.

The company unveiled the long-term investment plan on July 25 after holding a board of directors meeting. The centerpiece of the plan was the P10 plant it is currently building in Paju in the northwest of Seoul, including 2.8 trillion won in the 10.5th-generation panels and 5.0 trillion won in small- and medium-sized organic LEDs. Including the 5.0 trillion won being spent on the E5 and P9 plants, the total sum of investment in small- and mid-sized organic LEDs is more than 10 trillion won.

In addition, the company will establish a joint venture in China's Guangzhou by spending 1.8 trillion won to build an 8.5th-generation plant.

A company official said, "This is intended to cement our leading position in large-scale organic LEDs for which we supply 100 percent of the market now while at the same time narrowing the gap with rivals in small- and medium-size organic LED devices."